01/12/2017 Live Update

[Cobra]

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no idea up or down here. It's a range.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2017/01 ... ay-update/

[fehro]

SPX opening at 2271 .. minor gap down.. mind the gap.. and 20d 2263, and 2262-58ish gap

[fehro]

DXY breaking breakout zone.. and under 50d SMA yellow.. testing multi year highs

[fehro]

SPX 2263ish goes and yLOD goes... looking for 2258 to 2248.. or H&S target of 2240ish gap fill

[Al_Dente]

[fehro]

SPX takes out 2261 buckle up.. "could" see a fast 10 point drop .. VIX at resistance

[Cobra]

members only update at 10:03 am
http://www.cobrasmarketview.com/2017/01 ... ay-update/

[fehro]

SPX gap fill.. first support

[Cobra]

rebound here maybe but this bear may have legs.

[Al_Dente]

TQQQ, the 3x long QQQ is down -51% on the schwab screens
IT’S THE SPLIT FOLKS, THE SPLIT
It is showing properly on stockcharts at down -2.88%

[fehro]

SPX trying to hold it here.. as IWM testing horiz support all the way back to Nov highs.. took out 2 months worth of work

[uempel]

Checking SPX daily linear, I see an ellipse time signal mid-week, don't know what it's worth

[Trades with cats]

Genscape Cushing -133,554 from week ending Jan. 6 Tweeted by Zerohedge.

Last couple of weeks EIA was showing mid 200,000's draw at Cushing. I am thinking we will need some Reuters magic early next week about how Saudi is in full compliance to give faith to the oil longs.

Now that US oil production is rising again experts think shale service providers will help cause production costs to rise 20% in 2017 so what ever you think shale break-even is you may want to re-think. My personal bias is that shale is not profitable and is in fact for the most part one of the largest Ponzi schemes in history.

[Trades with cats]

Nat Gas Range Resources is saying that the US is now exporting more than it is importing.

[Trades with cats]

Had to go back to election night to find a larger violation of the average range low. Media is blaming this on the press for not asking enough economic policy questions yesterday.

[te_fern]

Watching and waiting. Needs to stablize and get the moving averages to start moving higher.....

[fehro]

SPX last hourly not pretty.. this level goes.. with conviciton looking to next gap 2246 -2240 also H&S target 2243

[Trades with cats]

30 minutes until London closes. It seems half hour either side is often a turning point in the morning direction. Right now it is turning to new lows.

[uempel]

I'm more confident that an hour ago. I redrew the red ellipse and it seems to fit nicely.